Speed up page load by deferring images

He basically is suggesting the same thing, only by using tiny base 64 encoded images, he can place his image tags directly in the HTML which has the benefit of being able to control attributes like height, width, alt, etc individually. It will be a lot easier to maintain your HTML this way as opposed to creating the entire image tag in a script.

<img src="data:image/png;base64,R0lGODlhAQABAAD/ACwAAAAAAQABAAACADs=" data-src="image1.jpg" alt="image 1">
<img src="data:image/png;base64,R0lGODlhAQABAAD/ACwAAAAAAQABAAACADs=" data-src="image2.jpg" alt="image 2">

Then your script is simple and generic for all images

<script>
function init() {
  var imgDefer = document.getElementsByTagName('img');
  for (var i = 0; i < imgDefer.length; i++) {
    if (imgDefer[i].getAttribute('data-src')) {
      imgDefer[i].setAttribute('src',imgDefer[i].getAttribute('data-src'));
    }
  }
}

window.onload = init;
</script>